"More than 30 years ago in a path-breaking article, Leland Yeager devised a means of testing this question. Yeager noted that 'many definitions of money can be self-consistent. But no mere definition should deter us, when we are trying to understand the flow of spending in the economy, from focusing attention on the narrow category of assets that actually get spent ...' ... Yeager’s discussion provides an unexceptionable means for deciding what to include in 'the' stock of money and what to classify as financial assets."

Writings

"Ludwig von Mises was the leading Austrian economist of his generation. He received several honorary doctorates and the distinction of a ceremonial 50th-anniversary renewal of his earned doctorate. ... Mises continues to inspire new generations of Austrian economists and scholars associated with several institutes and journals. ... Mises deserves honor for his courage, even at heavy cost to his own career, in pursuing research, teaching, and writing with uncompromising concern that correct understanding should prevail in the long run."

Reverence for Skeptics, Liberty, Oct 2007
Describes how Prof. Yeager albeit raised as Christian became what he calls a "reverent atheist" and discusses the bases for his views

"A great mystery remains — the universe itself — but saying that God created it is no solution. Who then created God? Are we not verging on an infinite regress? If something as wonderful as a creator God could have existed before he set to work, why could not something just as wonderful, the universe, have existed without a creator distinct from itself? And why be so anthropomorphic?"